The $DOT weekly chart is starting to look really interesting right now.
We can clearly see a long term falling wedge structure that has been forming since the 2021 highs. Historically, this is one of the most reliable bullish reversal patterns.
Support has been locked at the wedge boundary and price continues to respect that zone. Every dip into support has been absorbed which shows buyers are quietly stepping in.
On the other side, resistance is getting weaker. The chart suggests a potential breakout that could target the $23.80 level if momentum kicks in. That would align with a key liquidity pocket on the volume profile.
The bigger picture is simple:
if $DOT breaks out of this falling wedge, it opens the door to a multi month trend reversal that nobody wants to be late to.
Patience is key here but the setup is one of the cleanest we have seen on $DOT in a long time.
